Despite the unilateral and illegitimate US sanctions against Iran, this is the first year that Iran Air (formerly known as Homa) incurs no accumulated losses as of 34 years ago, the minister said expressing content.

"The accumulated losses of the airliner include 16.45 trillion rials (about $112.6 million) of governments debts to the company and debts of the airliner to the government, which have been cleared," he added.

On Monday, a new chief executive was appointed to manage Iran Air. Touraj Dehqani Zanganeh replaced Farzaneh Sharafbafi, Iran Air’s first female chief executive officer since late 2017.